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SCHOOiyCOMMERCE 
JSnnouncement 1910-1911 



UNiVFi 



Volume X 
Number 18 
June 14, 1910 




SCHOOLo/COMMERCE 



mm 



Snnouncemmt 1910-1911 




wBm 






IV ma 




NORTHWESTERN UNIVERSITY BUILDING 

Lake and Dearborn Streets 
Chicago 



School of Commerce 



CALENDAR 

1910 

September 29, Thursday. . .Annual Opening of the School of Com- 
merce. 

September 30, Friday Registration Day. 

October 3, Monday Regular class work begins. 

November 24, Thursday. . .Thanksgiving, a holiday. 

December 23, Friday Christmas recess, to January i, Sunday, 

191 1 inclusive. 

January 2, Monday Class work resumed. 

January 28, Saturday Founders' Day. 

January 30, Monday Mid-year examinations begin. 

February 6, Monday Second semester begins. 

February 22, Wednesday.. Washington's Birthday, a hoHday. 

May 26, Friday Instruction closes. 

June 4, Sunday Baccalaureate Sermon at Evanston. 

June 14, Wednesday Fifty-Third Annual Commence- 
ment OF Northwestern Uni- 
versity. 



NORTHWESTERN UNIVERSITY 



PLAN OF ORGANIZATION 

The School of Commerce was organized in June, 1908, sixty 
business men of Chicago, members of the Chicago Association of 
Commerce, the Illinois Society of Certified Accountants, and the 
Industrial Club of Chicago, assuming financial responsibility for the 
School during the first three years of its existence. The co-opera- 
tion of these men with the University in founding a University 
School of Commerce was brought about largely through the efforts 
of Mr. Joseph Schaffner. 

The School is an integral part of Northwestern University under 
the immediate financial supervision of an executive committee com- 
posed of the president and the business manager of the University, 
three members of the Chicago Association of Commerce, and three 
members of the Illinois Society of Certified Public Accountants. 
The co-operation of the University with active business men insures 
tiie maintenance of university standards and serves at the same time 
to keep the instruction in close touch with actual business life and 
modern commercial methods. 



GUARANTOR'S AGREEMENT 

(i) The undersigned subscribers to this agreement shall constitute 
a Board of Guarantors who, through an Executive Committee, shall 
supervise the finances of the School of Commerce, who shall authorize 
all expenditures, and to whom a detailed financial statement shall be 
submitted annually. The acts of the Board of Guarantors and of its 
committees shall be subject to the approval of the Executive Committee 
of the Board of Trustees. 

(2) The business and financial management of the School shall be 
vested in an Executive Committee of the Board of Guarantors, con- 
sisting of the President of the University, ex-officio, and of seven mem- 
bers, one of whom shall directly represent Northwestern University, 
three shall be members of the Board of Guarantors and three shall be 
members of the Illinois Society of Certified Public Accountants. The 
representative of the University shall be its Business Manager and he 
shall be Treasurer of the School. 

(3) In consideration of the financial obligation assumed by this 
Board of Guarantors, the trustees of Northwestern University, as par- 
ties to this agreement, agree to permit the use of such available rooms 
in the Northwestern University Building, at the corner of Lake and 
Dearborn Streets, Chicago, as are necessary for the purposes of said 
School. 

(4) The School of Commerce shall be an integral part of the 
University, the payment of all fees shall be made through the office 
of the University in the Northwestern University Building, at the corner 
of Lake and Dearborn Streets, in Chicago, the Business Manager shall 
account for fees and disburse funds on requisition in the regular way. 

(5) The trustees of the University, upon recommendation of the 
faculty of the School of Commerce, shall grant a diploma to students 
who have completed satisfactorily any of the prescribed courses. 



SCHOOL OF COMMERCE 



(6) The Dean of the School of Commerce, who shall be the 
administrative officer, shall be appointed by the President and trustees 
of Northwestern University. 

(7) The Dean shall have power to appoint assistants in both in- 
struction and administration, subject to the approval of the President 
and trustees of the University. 

(8) As soon as the required amount of subscriptions be obtained, 
upon the written request of five guarantors, a meeting of the guarantors 
in person or by proxy shall be held for organization and the appoint- 
ment of an Executive Committee. 

(9) Except as herein definitely provided the government and con- 
duct of the School shall be determined according to the statutes of the 
University. 

(10) This agreement shall cease and terminate on September 30, 
1911. 

I hereby agree to become a member of the Board of Guarantors of 
the School of Commerce of Northwestern University, and agree to be- 
come liable for a sum not to exceed the amount set opposite my name, 
to cover any deficit which may be incurred in the operation of said 
School, under the provisions set forth above. 

Any possible assessment on this subscription shall not exceed such 
proportion of the total deficit as my subscription bears to the total 
amount subscribed, and said assessment, if any, shall be payable on the 
fifteenth day of May of each year covered by this agreement. 

This agreement shall not be valid until a total of $5,000 shall have 
been subscribed. 



NORTHWESTERN UNIVERSITY 



BOARD OF GUARANTORS 



Alfred L. Baker 
Adolphus Clay Bartlett 
Harold Bennington 
Charles L. Brown 
Johnathan W. Brooks 
R. S. Buchanan 
Edward B. Butler 
J. Fred Butler 
Fayette S. Cable 
Eliada J. Cady 
James Robert Cardwell 
John Alexander Cooper 
Joseph H. DeFrees 
A. Lowes Dickinson 
Herman J. Dirks 
George W. Dixon 
William A. Dyche 
Charles W. Folds 
David R. Forgan 
Edward E. Gore 
Richard C. Hall 
William F. Hypes 
J. Porter Joplin 
William Kendall 
Edward Chester Kimbell 
Charles S. Ludlam 
John Lee Mahin 
Charles A. Marsh 
James Marwick 
Stephen T. Mather 



L. Wilbur Messer 

E. M. Mills 

S. Roger Mitchell 
Arthur G. Mitten 
Luman S. Pickett 
Ernest Reckitt 
William Hinman Roberts 
Isadore B. Rosenbach 
Albert W. Rugg 
Joseph Schaffner 
Charles H. Schweppe 
John W. Scott 
Elijah W. Sells 
Ernest W. Seatree 
Arch. Wilkinson Shaw 
George A. Sheldon 
Edwin M. Skinner 
Allen R. Smart 
Mason B. Starring 
Joseph E. Sterrett 
Homer A. Stilwell 
Se^^mour Walton 
Harry A. Wheeler 

F. F. White 
John T. Wilder 
T. Edv/ard Wilder 
Orva G. Williams 
Henry W. Wilmot 
W. A. Winterburn 
Arthur Young 



SCHOOL OF COMMERCE 



EXECUTIVE COMMITTEE OF THE BOARD OF 
GUARANTORS 



Abram Winegardner Harris 
President of the University, Chairman ex-officio 



Representing the Chicago Association of Commerce 

Richard C. Hall 
Ex-President of the Association of Commerce 

Joseph Schaffner 
Hart, Schaffner & Marx 

L. Wilbur Messer 
Chairman Association of Commerce Committee on Commercial and In- 
dustrial Education, General Secretary of the Chicago 
Central Young Men's Christian Association 



Representing the Illinois Society of Certified Public Accountants 

John Alexander Cooper, C.P.A. 
Vice-President of the Illinois Society of Certified Public Accountants 

Allen R. Smart, C.P.A. 
Manager Barrow, Wade, Guthrie & Company 

J. Porter Joplin, C.P.A. 
Walton, Joplin, Langer & Co. 

William A. Dyche 

Business Manager of Northwestern University 



FINANCE COMMITTEE 

Messrs. Cooper, Dyche and Messer 



NORTHWESTERN UNIVERSITY 



FACULTY 

Abram Winegardner Harris, Sc.D., LL.D. 

President of the University 
Willard Eugene Hotchkiss, A.M., Ph.D. 

Dean and Professor of Economic and Social Science 
Frank R. Mason, A.M. 

Secretary 

Seymour Walton, A.B., C.P.A. 

Professor of Theory and Practice of Accounting 
Walter Dill Scott, Ph.D. 

Professor of Advertising 
Earl Dean Howard, A.M., Ph.D. 

Assistant Professor of Banking and Finance 
Murray Shipley WUdman, Ph.D. 

Assistant Professor of Economics and Commerce 
Alfred William Bays, A.B., LL.B. 

Assistant Professor of Commercial Law 
William D. Kerr, A.B., LL.B. 

Instructor in Transportation 
Guy Van Schaick, B.L., J.B. 

Instructor in Commercial French and Commercial Spanish 



Instructor in Commercial German 
G. Lynn Sumner, A.B. 

Instructor in Business English 
George W. Sherburn, A.B. 

Instructor in Business English 

Arthur E. Andersen, C.P.A. 

Lecturer in Accounting 
Charles H. Langer 

Lecturer in Accounting 
Donald F. Campbell, M. A., Ph.D. 

Lecturer on Life Insurance 



Lecturer on Fire Insurance 



SCHOOL OF COMMERCE 



SPECIAL LECTURERS 

Roger W. Babson 
Proprietor, "The Babson Reports," Wellesley Hills, Mass. 

Courtney Barber 
General Agent, Equitable Assurance Association of New York 

David R. Forgan 

President, National City Bank of Chicago 

George A. Gilbert 
Resident Manager, Employer's Liability Assurance Corporation, Ltd. 

John Lee Mahin 
President, Mahin Advertising Company 

L. Wilbur Messer 
General Secretary, Chicago Central Young Men's Christian Association 

Dwight L. Moody 
Business Manager, Association of Commerce 

G. M. Reynolds 

President, Continental National Bank of Chicago 

George E. Roberts 
President, Commercial National Bank (Director of the Mint, 1898-1907), 

Charles H. Schweppc 
Manager, Lee Higginson & Co., Chicago 

Edward M. Skinner 
Credit Manager, Wilson Brothers 

Homer A. Stillwell 
Butler Brothers, President, Association of Commerce 



lO NORTHWESTERN UNIVERSITY 



FOUNDATION AND AIM 

The Northwestern University School of Com- 
University merce was established to meet the needs of men 

Training for who desire to lay a broad, scholarly foundation 

Business for a business career. Business men of wide 

experience are advising . such a careful and 
thorough preparation as the University School 
of Commerce furnishes. The development of business organization 
and of standards of efficiency has brought into teachable form many 
permanently valuable elements in successful experience and has made 
university training in business principles and practice feasible. 

The highest efficiency in business involves ability to see problems 
in all their relations. Men who have been trained to take a broad 
view of business activities may hope to rise to positions of command 
and influence. 

Courses in Com- The aim of the Northwestern University 
MERGE Should School of Commerce is to give to its students 

Facilitate the advantages of university culture and a 

Promotion of broader outlook upon all the relations of their 

Employes prospective callings. By enlarging their hori- 

zon and thus increasing their efficiency, the 
School can scarcely fail to promote the progress of its students toward 
positions of greater responsibility and influence. That this effect has 
been actually realized may be inferred from the fact that the stu- 
dents who have pursued the work successfully during the past two 
j^ears are now receiving valuable recognition in the form of promo- 
tion for increased efficiency in their positions. 



In the past a young man who secured a position 
Needs of with a firm in process of formation, and grew 

Present Day as the business grew, may have obtained in 

Business ^ actual business life the training best adapted 

to the needs of that time. The situation at 
present, however, is essentially different. This 
is a day of specialization. It is becoming obvious that "practical 
business experience" does not, and cannot, for the great mass of busi- 
ness employes, furnish the kind of training that is to-day demanded in 
the more responsible positions. Able young men who from necessity, 
or from too great haste to engage in business, obtain employment in 
a narrow and special field may advance to positions of responsibility, 
but often waste years in subordinate routine work, unable to secure 
the promotion for which their native abilities, if properly developed, 



SCHOOL OF COMMERCE II 

would fit them. In every business center there are hundreds of 
young men who feel keenly the need of systematic training which 
a University School of Commerce should furnish. 

The purpose of instruction given at the School 
Purpose to of Commerce is not to replace practical ex- 

SuppLEMENT perience. The material offered by the busi- 

BusiNESS ness activities of the city and of the nation 

Experience constitutes the data for the laboratory of 

higher commercial education. The work of 
systematizing this material and reducing it to teachable form is be- 
coming In large measure the special task of the universities. A course 
in the School of Commerce, In the case of students already employed in 
business, should supplement and systematize the results of experience 
already acquired. Young men not yet entered upon their business 
activities should be enabled, through a systematic course of training, 
to turn their subsequent experience to more efficient use. 

In founding the Northwestern University 
Evening School of Commerce, business men and edu- 

Courses cators have united to supply the professional 

Leading to ' training which modern business requires. To 

Diploma accommodate the large number of men w^ho are 

precluded by their employment from pursuing 
regular day work at a university, the School began by inaugurating 
in October, 1908, an evening course leading to a diploma in com- 
merce. This work is given five evenings a week, between the hours 
of seven and nine, from October to May Inclusive. Students who 
are able to carry the work of four courses, each one evening a week, 
can complete the diploma course in three years. If this number of 
evenings can not be devoted to the work, the time for completing 
the course is correspondingly lengthened. 

The demand for business training of university grade among men 
regularly employed in business has been amply demonstrated by the * 
success of the School. A total of 362 students have been registered 
during the past year. A surprisingly large proportion of these have 
been able to carry the work throughout the season, and up to the close 
of Instruction there were frequent applications for admission. 

In accordance with the plan of expansion 

adopted when the School was organized, the 
New Subjects number of the faculty has been increased and 

TO Be Offered the amount of Instruction offered during the 

coming year will be proportionally expanded. 

In enlarging the force of Instruction, the policy 
of preserving the balance between men who devote themselves ex- 
clusively to university teaching and those who are occupied primarily 
with business pursuits has been maintained. For the coming year 



12 NORTHWESTERN UNIVERSITY 

particular effort Is being made to give to students of past years and 
to others possessing the necessary qualifications opportunity to pur- 
sue advanced courses In the fields in which they are most Interested. 

School of Com- The service of a University School of Com- 

MERCE Should merce Is not confined to the personal bene- 

Raise Standards fits obtained by business employes. The 
of Business dearth of men properly qualified for positions 

Efficiency of large responsibility Is a situation which 

confronts nearly every large employer. Many 
branches of business are rapidly acquiring, and ought to acquire, 
recognized professional standing. The Interests of the public require 
in these branches the same grade of professional service as is demanded 
in law, medicine, and other professions. The public Is insisting that 
the business man look beyond the personal aspects of his activities 
to the broader principles of service upon which business organization 
is founded. 

Every young man demands a training which 
Fresent-Day ^jii ^^^ o^ly gobble him In the face of infinite 

business complexity and specialization to maintain his 

Requires a pj^^^ -^^ ^^^ profession, but one which will 

DROAD j^gjp j^jj^ ^Q become a leader in raising the 

1 RAINING Standards of business efficiency in the best 

sense of the word. The far-reaching public relations of a great 
modern enterprise are demanding qualities of mind and spirit which 
a comprehensive study of business, in its deeper and more fundamental 
relations, is best calculated to foster. 

The unparalleled advance of German trade 
Commercial and commerce during the last generation has 

Education in been attributed in large measure to the ex- 

Europe cellence and thoroughness of German com- 

mercial education. Other countries are rap- 
idly perfecting their educational systems in 
this regard. In Great Britain evening schools of commerce have 
had a noteworthy development. In Manchester alone the Central 
Evening School of Commerce, with courses covering the field of 
commerce and accounts, as well as courses in political science and 
modern languages, had a registration last year of nearly three thou- 
sand students. 

Until a few years ago, the only opportunity 
Need Is for in this country for special business training 

Training of beyond the common school or high school was 

University found In the work of elementary "business 

Grade colleges." ljc«eful in Its field as the function 

of the buslntirf college has doubtless been, it 
has sought to prepare Its students oiiiy for the routine duties of sub- 



SCHOOL OF COMMERCE I3 

ordinate clerical positions. The need at present is for commercial 
education of a distinctively University grade. 

Immediate A number of universities have for several 

Demand years conducted day courses in commerce ; but 

Met by only those universities which are in close 

Evening proximity to a large city have been able to 

Courses make their work available to that class of 

students by whom it is most needed and ap- 
preciated. The evening courses not only render the service that is 
immediately demanded, but they may be most effective in bringing 
about that close contact with actual business which is absolutely 
essential to successful education for leadership in the commercial 
world. 

Northwestern University occupies an excep- 
The University's tional position for work of this kind. Its 
Facilities for building at the corner of Lake and Dearborn 

Advanced Work Streets, Chicago, in the heart of the commer- 
IN Commerce cial center of the country, is occupied by sev- 

eral of the professional schools of the Uni- 
versity and is fully equipped for educational work. Its proximity to 
all the large libraries of the city offers unusual opportunities for 
study along lines followed in the courses. 

The situation of the school in close contact 
The School with the actual business affairs of the city 

Is Close to makes available a mass of material for study 

THE Business and observation which could scarcely be ex- 

CoMMUNiTY celled anywhere in the country. The advan- 

tages of location are greatly enhanced by the 
plan under which the School is organized. The representatives of 
the leading business firms, whose names appear in the list of guaran- 
tors, have shown their direct interest in the work the School is under- 
taking. They are, moreover, through their executive committee, 
responsible for its efficient management. Some of them participate 
as special lecturers in the work of instruction, while others have ex- 
pressed a willingness to make their plants available as laboratories 
of business education. Every effort is put forth both on the part of 
the Universit}^ and of the industrial leaders of Chicago to keep the 
work in line with the needs of the business community. The 
association of practical business men in this w^ork already has proved 
of great value to the students of the Schools and will offer peculiar 
advantages to its graduates. 



14 NORTHWESTERN UNIVERSITY 

During the past year 362 students have been 
enrolled. They have come from the offices and 
Results salesrooms of Chicago firms, representing a 

Achieved wide range of business activity, as is indicated 

by the list at the end of this bulletin. In a 
large number of cases they have taken the 
work at the suggestion of employers whose cordial encouragement 
and practical support afford the best evidence of the present use- 
fulness and future growth of the school. 



SCHOOLOFCOM MERGE I5 



DESCRIPTION OF COURSES 

Courses now offered in the School of Commerce are classified by 
departments as follows: 

1. Accounting 5. Transportation 

2. Commercial Law 6. Business Administration 

3. Banking and Finance 7. Languages 

4. Economics 8. Special Courses 

(Evenings seven to nine) 
I. ACCOUNTING 

PROFESSOR WALTON^ MR. AXDERSEX, MR. LAXGER 

Accounting, First Principles — Mondays Mr. Langer 

This course is intended to form an introduction to the study of 
accounting and also as a preparatory^ class for the intermediate and 
advanced courses. Sufficient attention will be devoted to the 
fundamental principles of accounting to give students with- 
out previous accounting experience an intelligent understanding 
of the underlying principles. The evolution of bookkeeping prac- 
tice will be taken up from the elementary single entry system to 
modern and advanced double entry methods. The practical work will 
consist of a graded set of practice books, covering various mercantile 
and manufacturing accounts. The practice work includes the open- 
ing and closing of the books of individuals, partnerships and corpora- 
tions and the preparation of statements showing their various op- 
erating and financial conditions. In this connection full consideration 
will be given to depreciation, reserves, accrued accounts and de- 
ferred charges. 

It is expected that this course will normally precede the course 
in intermediate accounting; the two courses may, however, be taken 
contemporaneously by students who have some knowledge of book- 
keeping and who desire to specialize in accounting. 

Accounting, Intermediate — Fridays Mr. Andersen 

The scope of this course is to be materially broadened so as to 
embrace many features not previously considered. It presupposes 
a thorough knowledge of routine bookkeeping and elementary ac- 
counting, which will be touched upon only by way of introduction. 
The course will deal with single proprietorship and partnership 
accounts; corporation accounts, which among other features will 
deal with the formation and consolidation of businesses ; special points 
connected with the issuing of capital stock and bonds ; the declaration 
and payment of dividends and the preparation of balance sheets 



l6 NORTHWESTERN UNIVERSITY 

and statements of earnings and income. In this latter connection par- 
ticular attention will be given to the distinction between capital and 
maintenance expenditures; realization, liquidation, receivers, execu- 
tors,, banks and other accounts; the subject of "Cost" accounts will 
be thoroughly dealt with, and in addition a special lecture will be 
given to the students by an experienced Cost Accountant. The theory 
of accounts and auditing will also be taken up. 

This course is intended to give the business man a knowledge of 
accounting such as will enable him to check up on the financial and 
current operation of his own affairs. It also provides the training 
prerequisite to enrollment in the advanced accounting course. 

One of the principal features of the course will be the ''home 
study" work, and the students will be required to work out a large 
number of problems in practical accounting and in the theory of 
accounts and auditing, which will be marked and returned after a 
discussion in the class. 

Accounting, Advanced — Mondays Professor Walton 

This course will treat of bookkeeping and accounting methods 
only so far as is necessary to show why certain ones are to be rec- 
ommended in order that true facts and conditions may be exhibited 
in the accounts. The principal feature will be a discussion of the 
real nature of various kinds of assets and liabilities, the principles 
of debit and credit, of depreciation, of reserve accounts and funds, 
of dividends and the sources from which they can be paid. This 
involves a consideration of the nature of real profits, of good will 
and its treatment in the accounts, and in general of all the condi- 
tions that are found in individual proprietorships, partnerships or in- 
corporated companies; with an indication of their proper treatment 
and a clear understanding of the scientific reason therefor. A portion 
of the lectures will be devoted to the consideration of the principles 
of stock and bond brokerage, fire and life insurance, consignments, 
adventures, breweries, clubs, building and loan associations, con- 
tractors, banks, public service corporations, and mergers and con- 
solidations. Questions pertinent to each topic, taken generally from 
the Illinois C. P. A. examinations, accompany the lectures. The 
students are expected to answer these questions in writing. After 
the principles involved have been brought out by class discussion, in 
which all students are encouraged to participate, their answers will 
be returned to them corrected, together with the answers of the in- 
structor. A syllabus of each lecture is also furnished. The key- 
note of the course is "why," and no answer is considered adequate 
unless a competent reason is given for it, even if the answer is 
correct. To accustom the students to working under the pressure of 
the time limit imposed in the C. P. A. examinations, they are re- 
quested to note on each practical accounting problem the time con- 



SCHOOL OF COMMERCE 17 

sumed In its solution. The course is intended to furnish students with 
such a knowledge of the fundamental principles of accounting as will 
enable them to pass the C. P. A. examinations. 

[Higher Accounting Problems ] 

Not to be given in 1910-11. 

A continuation of the intermediate and advanced courses designed 
primarily to broaden the foundation of students who intend to follow 
accountancy as a profession. Concrete problems not covered in the 
work of the preceding courses will be discussed. Specific application 
will be made of advanced principles of accountancy to particular lines 
of business; Investment accounts, brokers' accounts, executors' and 
trustees' accounts, merchandising accounts, railroad accounts, manu- 
facturing accounts and cost keeping; problems involving the relation 
of the accounting to other departments of the business. Specialized 
courses in advanced accounting may be arranged as occasion demands. 

Those Interested in railroad accounting are referred to the courses 
in Transportation. 

2. COMMERCIAL LAW 

PROFESSOR BAYS 

The work In Commercial Law Is designed to give the student 
a knowledge of such legal principles as will be of practical assistance 
to him and give him greater efficiency In his business affairs. It also 
includes all those subjects required for the examination for Certified 
Public Accountant. 

The work of the second semester is not dependent upon that of 
the first, so that students entering the school at the middle of the year 
will be admitted to these courses. 
Commercial Law I — Tuesdays Professor Bays 

(a) Contracts. Theory of contractual relationship; offer and 
acceptance; express and Implied contracts; oral and written con- 
tracts; what contracts must be written; consideration; Illegality of 
purpose; construction and operation; discharge of contracts; remedies 
for breach ; measure of damages. 

(b) Negotiable Instruments. Meaning of negotiability; what 
instruments negotiable; endorsement and transfer; rights and lia- 
bilities of parties; steps necessary to fix liability of parties; discharge 
of negotiable Instruments. 

(c) Agency. Real and apparent authority; ratification; undis- 
closed principals; duties and powers of agents and the effects of 
agency in the various business situations. 

(d) Bailments. Nature and classification of bailments; re- 
spective rights and duties of bailor and bailee ; lien of bailee. 

(e) Partnerships. Kinds of partnerships and partners; firm 



l8 NORTHWESTERN UNIVERSITY 

name, capital and property; rights of partners; powers of partners to 
bind firm; right of third persons against firm and members thereof; 
dissolution of firm. 

(f) Sales. Nature of sale; sale distinguished from other transac- 
tions; what may be subject of sale; warranties, express and Implied; 
transfer of title; rights of third parties; assumption of risk; stoppage 
in transit; remedies and damages. 

Commercial Law II — Thursdays Professor Bays 

(a) Real Estate Law. Different kinds of property; capacity 
of parties to contract in respect to real estate; contracts for sale of 
real estate; deeds; mortgages; landlord and tenant; real estate 
brokers. 

(b) Trademarks and Unfair Competition in Trade. What 
may constitute a trademark ; Infringement ; what appropriation of an- 
other's style of packing, labeling, etc., forbidden; right to use geo- 
graphical names, use of one's own name ; right to prevent use of trade 
secrets; inducing breach of contract, etc. 

(c) Debtor and Creditor. General and judgment creditors; at- 
taching creditors ; secured and unsecured creditors ; chattel mortgages ; 
exemptions of debtor; waiver thereof; assignments for benefit of 
creditors; compositions; property subject to execution; creditor's bills; 
garnishee process, etc. 

(d) Bankruptcy. Laws of the States and the United States; 
who may be bankrupt; voluntary and involuntary bankruptcy; the 
officers who administer the estate; their titles, rights and powers; 
administration; dividends; duties and privileges of bankrupts; dis- 
charge; what debts not discharged; when discharge refused. 

(e) Insurance. Legal aspect of business; Insurable Interest; 
consideration of various provisions of standard policy; violation of 
conditions, estoppel and waiver. 

(f) Suretyship. Nature of the surety's undertaking; rights of 
co-sureties; rights of sureties against the principal; indemnity bonds 
and surety companies. 

(g) Corporations for Profit. Kinds; theory of; charter; by- 
laws; capital stock; property; rights and duties of stockholders and 
directors; rights of creditors; ultra vires acts; consolidation of cor- 
porations; monopolies and trusts; winding up and dissolution of 
corporations. 

3. BANKING AND FINANCE 

PROFESSOR HOWARD, PROFESSOR WILDMAN 

Finance — Thursdays Professor Howard 

This course aims to give the student an acquaintance with the 
elementary principles and practices of finance especially as they con- 



SCHOOL. OF COMMERCE I9 

ccrn the ordinary business man. A study is made of the causes 
which bring about the regular swings of prices and periods of 
alternate prosperity and depression. The student is expected to gain 
sufficient knowledge of credit and banking to enable him to avoid the 
commonest errors in managing the financing of ordinary business. 
Students may enter the course for the whole year or for either 
semester. 

First Semester: — 

(a) The Economics of Finance. The place of Finance in our 
economic system; the financial principles arising from division of 
labor, private property, organization of industry, exchange, etc. 

(b) The Basis of Values. The underlying principles of value; 
capital and income, forms of capital investment — stocks and bonds 
and their value. 

(c) Money. The principles of money, a description of our 
monetary system, compared with that of other countries. The 
Greenback movement of the 70's, the Free Silver movement, the 
Gold Standard. Demand and supply of gold. Legal tender. 

Second Semester: — 

(a) Banking. The function of banks, the development of 
banking, foreign banking systems, the Bank of England. 

Deposits and bank notes; elastic currency; the Canadian system; 
pending currency legislation. 

The National Bank Act; state banking laws. The money mar- 
ket, call loans, rate of interest, the relation between the New York 
banks and Wall Street, the U. S. Treasury and Wall Street. The 
principles of foreign exchange. 

(b) Credit. Loans and the granting of bank credit. The 
credit man in the bank. The business of dealing in commercial 
paper. The principles of credit; collateral, the personal equation. 

(c) Panics and Financial Crises. The great panics of 1837, 
1857, 1873, 1893. The Wall Street panics of 1901 and 1903. The 
panic of 1907. The nature and causes of panics. Plans for the 
mitigation of panics. 

Corporation Finance — Tuesdays Professor Wildman 

(a) Corporate Organization. Formation and organization of 
corporations; operations and position of the promoter; capitalization; 
comparative advantages of organization in New Jersey and other 
states. Corporations in foreign countries. Underwriting; functions 
of trust companies in organization of corporations. 

ih) Marketing of Securities. Rules and methods of stock ex- 
changes. Brokerage and margin trading — speculation vs. investment. 
Prices of securities; manipulation; factors determining fluctuations. 
Stock market panics. Foreign methods of trading in securities. 

(c) Charters and Functions of Corporations. Charters, how ob- 



20 NORTHWESTERN UNIVERSITY 

tained. Common powers, by-laws, ultra vires acts. Relations, rights 
and duties of stockholders, directors and officers. Regulation of 
corporations by government. 

(d) Failures and Reorganizations. Causes of failures. Ap- 
pointment and duties of receivers. Courts of Chancery. 

Receivers' certificates. Advantages of various plans of reorganiza- 
tion. 

Stocks, Bonds and Investments — Wednesdays. . .Professor Wlldman 

A study of the securities Issued by national, state and municipal 
governments and by railroads and Industrial corporations. The 
nature of Investment, and a comparison of the advantages of various 
kinds of stocks and bonds for Investment purposes. 

The course will be of value to Investors as an aid In guiding the 
purchase of securities with a view to their stability, salability, and 
income-producing capacity. The organization of bond houses and 
their methods of marketing securities will be considered. 

A detailed study will be made of the stock market, the organiza- 
tion and methods of the stock exchanges and brokerage houses. At- 
tention will also be directed throughout the course to market reports 
and market letters as exemplified by the Babson and Gibson sj^stems. 

This course Is covered In one semester but will be repeated in the 
second semester on sufficient registration. 



4. ECONOMICS 

PROFESSOR HOTCHKISS^ PROFESSOR WILDMAN 

Practical Economics — Fridays Professor Wlldman 

The aim of this course will be to give students an appreciation of 
the principles underlying the business activities of the community, 
and to enable them to apply sound economic reasoning to the prac- 
tical affairs of business life. The first part of the course will be 
concerned largely with establishing, through discussion and illus- 
tration drawn from concrete experience, the principles upon which 
values are based. 

The greater part of the course will be devoted to the application 
of the principles of value as determining the production, exchange 
and distribution of wealth. This work will Involve the discussion 
of many practical business problems such as the determination of 
w?.ges, profits and interest rates, money and credit, taxation, trade 
unions and transportation rates. 

Briefly, the course will cover the nature and history of our In- 
dustrial and commercial system with frequent references to those of 
other countries. It Is regarded as one of the fundamental courses 
and will be required of all candidates for a diploma. 



SCHOOL OF COMMERCE 21 

Resources and Foreign Trade of the United States — Wednesdays. . 
Professor Hotchkiss 

The course aims to equip the student with a comprehensive under- 
standing of the resources upon which the industries of this country 
are based. Comparison is made between these resources and those 
foreign countries with which the United States sustains trade rela- 
tions. Critical study will be given to the methods and processes by 
which various sorts of resources have been developed, paying atten- 
tion to proposals for the restoration, conservation and more econom- 
ical utilization of all of the resources of the country. Especial em- 
phasis will be given to the agricultural and mineral resources of the 
Mississippi Valley, upon w^hlch the present and future greatness of 
Chicago as a business center depends. Study will also be made of 
the distribution of population in its relation to resources and to the 
development of industries and markets. Practically all of the work 
of this course will be illustrated by stereoptlcon reproductions of 
maps, charts and photographs showing the processes and the impor- 
tance of particular industries. In addition m.en who are in a position 
to speak with authority upon different lines of trade will give special 
lectures before the class. 

This course will be open to students who enter for the second 
semester as well as those who are enrolled for the year. 

[^Public Relations of Business — Professor Hotchkiss] 

Not given in 1910-11. 

Work in this field will involve a consideration of the way in 
which business comes in contact with the community and the govern- 
ment. The relations of a large business concern to the city, the state, 
the nation. The business man as citizen. Civic functions of com- 
mercial bodies such as associations of commerce, commercial clubs, 
boards of trade, etc. 

The government as a regulator of business; regulation of the 
holding and transmission of property; regulation of dangerous and 
offensive trades; regulation of traffic in streets, of use of sidewalks, 
alleys, etc. ; regulation of corporate organization, of money and finance, 
of commerce; regulation of public service industries such as railways, 
street railways, gas and electric-light companies, telephone and tele- 
graph companies, water and power companies. Effect of public 
service industries on the business conditions of a town or city. In- 
fluence of public regulation on production; regulation from the point 
of view of the consumer. Critical discussion of the object, efficiency, 
and general policy of public regulation. . 

Economic Problems .... 



Given in 1910-11 only on sufficient registration. Hours to be 
arranged. 

Industrial conditions arising out of concentration of industry. 



22 NORTHWESTERN UNIVERSITY 

Economic progress of the last century; the development of resources; 
improved methods of production. Development of industrial classes. 
Business as affected by the consuming capacity of the population ; com- 
parison of the consuming capacity of American with foreign popula- 
tions. The labor problem in different parts of the world ; the develop- 
ment of trade unions ; present status of unionism ; influence of unions 
in business organization; different policies toward unions. Consoli- 
dations of capital; effects of consolidation on business organization. 
Discussion of present economic conditions in business. 

5. TRANSPORTATION 

MR. KERR 

Chicago is the largest transportation center in the world. The 
number and magnitude of the railroad lines terminating here are not 
equaled in any other city in the world. A large population depends 
for subsistence upon railroad employment, and a demand exists among 
railroads for competent employees. Chicago is likewise the commer- 
cial and industrial center of the West, and its establishments arc 
brought in close contact with the railroads in reaching their markets. 
By recognizing Transportation as a distinct branch of study and 
offering a diversified list of courses the School of Commerce hopes 
to emphasize the principles upon which efficiency in transportation 
service rests. The following courses are offered for the year 1910-11 : 

Railroad Law and Economics, I — Fridays, First Semester. Mr. Kerr 

This is a general course in Transportation adapted to the needs 
of business men and of railroad men. Particular attention is given 
to the law of common carriers, and the economic foundation thereof. 
The duties of common carriers are examined with reference to the 
beginning, duration and termination of their extraordinary liability 
as insurers; duty to carry safely; exceptions; limitation of liability; 
transfer to connecting lines; bills of lading, their representations and 
conditions; claims, their origin, enforcement and collection. The 
duty of the shipper or consignee to pay a reasonable compensation 
is considered with reference to the carrier's means of enforcing same. 
Decided cases illustrating the character of the situations that arise 
and the rights of the parties thereto are placed in the hands of the 
students in convenient form and used as a foundation for the course. 

Railroad Law and Economics, II — Fridays, Second Semester 

Mr. Kerr 

This course deals with the rights and duties of the railroad as a 
public service agency and of the shipper as a member of the public. 
The duty of the railroad to carry for all members of the public on 
terms of equality and for reasonable charges; the foundation of 



SCHOOLOFCOM MERGE 23 

this duty in the necessities of the public and of the public welfare; 
remedies at common law; unjust discriminations betvveen individuals, 
localities and commodities ; the meaning of the railroad problem ; early 
legislative experiences; Granger laws; the act to regulate commerce; 
pooling; competition and cooperation; long and short haul section; 
power of commission over rates; Sherman law and the railroad 
problem; rebates and illegal preferences; consolidations of connecting 
and competing lines; Elkins law; enlargement of the scope of the 
Commerce Act in 1906 and increase in the powers of the Interstate 
Commerce Commission; further legislation of 1910; procedure of the 
Interstate Commission; state commissions, including the Illinois Rail- 
road and Warehouse Commission. Decisions of the courts and the 
commission are used to illustrate conditions existing and the prin- 
ciples embodied in rate regulation. 

Railroad Rates and Rate-Making .... 

Given in 19 10 11 only on sufficient registration. Hours to be 
arranged. 

This course offers a systematic study of rate-making in the 
practice and of rate structures as they have developed and been 
applied to industrial and transportation conditions in this country. 
The organization, jurisdiction and operation of railroad freight asso- 
ciations are considered, and the basis of through rate adjustments be- 
tween parts of the country; basing points and trade centers; gate- 
ways to different sections of the country; class and commodity rates; 
differentials. The course is intended to give a practical working 
knowledge of actual conditions affecting traffic movements so far as 
rates are concerned. 

This course is offered tentatively, subject to sufficient registration. 
It is suggested that persons desiring to register communicate with 
the Secretary at once. The course will be conducted by a rate ex- 
pert, whose name will be announced later. 

Railroad Accounting 



Given in 19 10- 11 only on sufficient registration. Hours to be 
arranged. 

The purpose of this course is to describe the application to the 
railroad business of general accounting principles. The course de- 
scribes the auditing and accounting of passenger and freight receipts, 
operating and plant costs, and the gathering, compilation, checking 
and auditing, assembling and classification, and final disposition of 
the statistical data of the road for the use of officers, directors, stock- 
holders and the public. The classification of accounts prescribed by 
the Interstate Commerce Commission is explained in detail; traffic 
statistics; car, train and locomotive data. The system employed by 
one of the large railroads is used as a foundation of the course. Stu- 



24 NORTHWESTERN UNIVERSITY 

dents are supplied with actual forms in use by railroads, which are 
studied with reference to their purpose and suitability. 

This course is offered tentatively, subject to sufficient registration. 
It is suggested that those desiring to register communicate with the 
Secretary at an early date. The course will be conducted by a 
railroad accounting expert, whose name will be announced later. 



6. BUSINESS ADMINISTRATION 

PROFESSOR SCOTT, DR. CAMPBELL 

Work in this field will aim to bring to the use of students 
the experience obtained in successful business undertakings. Typical 
up-to-date concerns in various lines of business will be selected for' 
study, and investigation will be made of their organization, division 
into departments, executive control, and the relation of various depart- 
ments to the whole. As rapidly as the mass of material in this field 
can be collected and reduced to teachable form, new courses will be 
offered, dealing with the different divisions of large business concerns, 
such as buying, producing, selling, accounting, executive management. 
The same policy will prevail with reference to courses covering other 
special lines of business than those indicated below. 

Psychology of Business, Advertising and Salesmanship — Mondays. . 
Professor Scott 

This course will provide for a thorough and comprehensive 
study of the human and personal elements in business. Emphasis 
will be placed upon the established laws of psychology which have 
the most direct application to business. 

An attempt will be made to analyze and understand the minds 
of prospective customers, and to arrive at the most effective method 
of dealing with them. Psychological principles of efficient organiza- 
tion. Esprit de corps. Laws for increasing human efficiency, 
whether in oneself or in employees. Principles involved in the re- 
lation of employer and employed; in the relation of a business estab- 
lishment to the public. Development and analysis of goodwill. 

Advertising and salesmanship will be studied as a single branch 
of business organization. Advertising as resting on the fundamental 
principles of exchange and mutual service. With these principles 
as a keynote, advertising will be treated as a form of salesmanship, 
and practical selling will be contrasted with advertising methods. 
Special lecturers, drawing upon their practical experience in the adver- 
tising business, will seek to trace the development of various advertis- 
ing services and to derive a basis for testing the efficacy of specific 
advertisements. 

In this part of the course Professor Scott will apply the prin- 



SCHOOL OF COMMERCE 25 

ciples of business psychology to advertising problems. The mechan- 
ical and artistic elements in advertising. Publicity departments in 
various establishments. Throughout the course principles will be 
tested by application to actual business experience. 

This course will be open to students who enter the second sem- 
ester as well as those enrolled for the w^hole year. 

Merchandising 

Not given in 1910-11. 

A special feature of this course will be a series of lectures by 
experienced business men possessing intlm^ate practical knowledge 
of the several topics under discussion. The fact that Chicago Is 
the great central market of the country makes It especially desirable 
that the experience and the material pertaining to the organization 
of its great mercantile establishments should become available for 
the young men whose efficiency will determine both their own suc- 
cess and the commercial future of the city. 

In this course the organization of the wholesale and retail 
trades and their relations to each other will be studied, together 
with the question of credits and the advantages to be derived from 
the co-operation of dealers through commercial societies such as 
the Association of Commerce. Lectures by members of the Asso- 
ciation will bring out the relations existing between Chicago's 
trade and com.m.erclal policies and the city's future development. 
An examination will be made of leading establishments, both whole- 
sale and retail; the organization of departments; methods of hold- 
ing departments responsible; the criteria employed for determining 
both the efficiency and profitablenss of each department and its al- 
lotment of floor-space and capital. Administration of various kinds 
of departments, as Treasury, Collections, Traffic or Delivery, Store- 
room, Tool, Shipping. 

The constant aim of the work of this course will be to bring 
out, by criticism and discussion, the principles involved in successful 
experience. 

INSURANCE 

Insurance Practice — Fridays Dr. Campbell 

First semester. 

This course Is designed to meet the needs of those who desire a 
broader and more Intelligent view of the business of Insurance as a 
whole, but the separate branches will be treated In sufficient detail to 
enable the student to understand the fundamental principles of the 
subject. The first part of the course Is expected to appeal especially 
to salesmen and office employees connected with life and casualty in- 
surance companies. 

The first semester's work is devoted to life and casualty insur- 
ance. Among the subjects treated will be: The principles of in- 



26 NORTHWESTERN UNIVERSITY 

terest and discount; the various tables of mortality with special ref- 
erence to the American Experience Table of Mortality; net and 
office premiums; level premium reserves; as much of the theory of 
preliminary term reserves and the various modifications as will ena- 
ble the student to understand their meaning; general policy pro- 
visions; distribution of surplus as dividends; cash, loan, paid-up In- 
surance values; modes of settlement under a policy. Throughout 
the course emphasis will be laid on the advantages and disadvantages 
of the different kinds of policies, and the fitness of certain types of 
policies to meet the needs of different classes of policyholders. 

Second semester. 

The work of the second semester will be devoted to property 
insurances. The topics on which emphasis will be laid are mainly 
those mentioned In the description of the course on Fire Insurance. 

The second semester's work is not dependent on that of the first, 
so that students entering the school at the middle of the year will be 
admitted to this course. 

Theory and Practice of Life Insurance — Mondays. . . .Dr. Campbell 

Given in 1910-11 only In case of sufficient registration. 

The subjects treated In this course will be in the main those re- 
lating to life insurance treated In Insurance Practice. Each topic, 
however, will be covered In greater detail, and the methods em- 
ployed In computation will be those of the actuary. The course 
will consist of lectures, practice in computations, and discussions of 
practical problems. A text book will be prescribed at the opening 
of the course and the lectures on topics not discussed in the book will 
be mimeographed and furnished to the student. 

A knowledge of the elementary principles of algebra Is highly 
desirable but not essential for the course. The student who enters 
without any knowledge of algebra, however. Is advised to pursue a 
course in that subject simultaneously with this course. 

Actuarial Science — ^Wednesdays Dr. Campbell 

In this course the subjects treated will be those prescribed for 
examination for associate membership In the Actuarial Society of 
America and the American Institute of Actuaries. Text-books will 
be prescribed at different times covering the topics under discussion. 

The course Is open only to those who have a satisfactory train- 
ing in the principles of algebra and are already familiar with the 
formation and to some extent with the use of the commutation col- 
umns; but deficiency in the latter requirement may be made up by 
taking along with this course a prescribed course in reading under 
the direction of the instructor. 

Note. — An extra fee of $25.00 will be charged to those taking 
this course. 



SCHOOLOFCOMMERCE 27 
Fire Insurance 



Not given in 1910-11. See Insurance Practice, second semester. 

The object of this course is to treat the subject of fire insurance 
in such a way as to bring out its fundamental principles and its re- 
lation to other branches of business. The lectures are adapted to 
the needs of men already in the insurance business, and also to give 
to men engaged in other business a clear understanding of the nature 
of insurance contracts and the extent to which fire insurance enters 
into the affairs of every business man. 

The lectures deal with the history of fire insurance; the rela- 
tions between the insurance company and the policy holder; discus- 
sion of the three main types of insurance organization, stock com- 
panies, mutual companies, and Lloyds; policies, especially the widely 
used New York standard policy; forms and clauses, including co-in- 
surance, distribution, mortgagee, percentage value, and percentage 
loss clauses ; insurance accounting, particularly with regard to the com- 
putation of reserves; loss adjustments; rating methods, including 
discussion of the Analytic (Dean) Schedule, the Universal Mercan- 
tile Schedule, and special schedules; and inspection methods. 

Part of the time will be devoted to a discussion of accident, em- 
ployers' liability, surety bonding, and other special branches of in- 
surance. 

[Real Estate ] 

Not given in 191011. 
Those interested in the law of real estate are referred to Mr. 
Bays' course, Commercial Law II. 

Principles and practice involved in the management of real 
property. Factors determining the value of real estate in different 
locations; residence neighborhoods, suburban real estate; real prop- 
erty and transportation facilities; effect of location and arrangement 
of streets; business properties; office buildings. Practice connected 
with the purchase and sale of real estate; methods of acquiring title; 
rights and privileges of purchaser under mortgage; under conditional 
sale. Law and usage concerning landlord and tenant; position of 
subtenant. Relation of real estate transactions to contracting and 
building enterprise. 

7. LANGUAGES 

MR. SHERBURN, MR. SUMNER, MR. VAN SCHAICK 

Business English— Wednesdays • Mr. Sherburn, Mr. Sumner 

This will be a practical course calculated to promote the use of 
clear, forceful English in all phases of business where writing is 
demanded. The early part of the course will be in the nature of 
a review of proper forms, such as punctuation, sentence structure, 



28 NORTHWESTERN UNIVERSITY 

and paragraphing, with some discussion and practice In the writing 
of description, narration and exposition. 

Following this, the work will be entirely devoted to practical 
business usage, covering sales letters, collection letters, complaint 
letters, inter-house, inter-department and general correspondence. 
In each case the elements of style, tone, personality and force will 
be studied. Actual letters will be criticised and rewritten and enough 
original work will be required to give practical application to the 
principles discussed during the class periods. 

This course is open to students who enter in the second semester 
as well as to those enrolled for the v»^hole year. 

Com?nercial Spanish — Thursdays Mr. Van Schaick 

Given in 1910-11 only on sufficient registration. Hours to be ar- 
ranged. 

The growing importance of our commercial interests in coun- 
tries where Spanish is spoken, due to our Insular possessions and the 
relations of the United States with the South American Republics, 
makes a knowledge of Spanish Indispensable to many lines of busi- 
ness activity. The work In Spanish will begin with a thorough train- 
ing in pronunciation and conversation. Appropriate stress will be 
laid on the technical vocabulary of trade, and on Spanish forms of 
commercial correspondence. Thorough drill in grammar and In 
the use of correct and idiomatic expression will be an important feat- 
ure of the work. 



Commercial German — 

Given in 1910-11 only on sufficient registration. Hours to be ar- 
ranged. 

The unparalleled expansion, during the last half century, of 
German commerce and its entry into all the markets of the world, 
make a knowledge of the German language a condition of success- 
ful competition in many lines of foreign trade. The work In Ger- 
man will be so arranged that fluency In the correct use of the spoken 
language may be supplemented by training in written correspondence 
involving a knowledge of German business forms and usages. To 
this end frequent exercises in conversation and in grammatical forms 
will be accompanied by practice and criticism in commercal corre- 
spondence. 

Commercial French — Fridays Mr. Van Schaick 

Given in 19 10- 11 only on sufficient registration. Hours to be ar- 
ranged. 

The fact that French is the official language of many European 
countries and is used in many other parts of the world where our 
foreign commerce is assuming increasing importance makes a knowl- 
edge of French indispensable in many branches of foreign trade. The 
main feature of the work in French will be a thorough drill in 



SCHOOLOFCOM MERGE 29 

French grammar and idioms. The course is intended for those who 
desire a practical knowledge of modern French for business purposes. 



8. SPECIAL COURSES 

The connection of the school of commerce with other depart- 
ment of the university and its proximity to neighboring institu- 
tions will often enable it to oi?er additional courses for which there 
is sufficient demand. Numerous subjects, not included necessarily 
within the scope of a general course in commerce, may be indis- 
pensable for certain lines of business activity. The following are 
some of the courses for which arrangements may be made in case 
there is sufficient registration. 

Industrial Chemistry Industrial Engineering 
Economic Geology 

It is probable that a number of students in the last year of their 
course will desire elementary work in one or more scientific subjects 
intimately connected with certain lines of industrial activity. The 
laboratories located in the upper stories of the Northwestern Uni- 
versity- building, in use during the day by the schools of pharmacy and 
dentistry, will make it entirely practicable to meet demands of 
this kind. 

Application for Additional Courses 

Students desiring to pursue work of a university grade not an- 
nounced in this bulletin should make application at the office, 
Room 224, early in the year. This will facilitate an advance 
estimate of the demand and may make possible provision for work 
which othervvise could not be arranged. As soon as practicable, ap- 
plicants will be advised whether the establishment of the desired 
courses appears feasible. 



30 NORTHWESTERN UNIVERSITY 

GENERAL STATEMENT 

Admission Requirements 

Applicants for admission to the School must be at least eighteen 
years of age. 

diploma course 

Every candidate for a diploma from the School of Commerce 
will be expected to have had the advantage of a complete high- 
school training or its equivalent. The University recognizes, how- 
ever, that many young men who have not completed a high-school 
course are superior in mental power to less experienced men with 
better scholastic opportunities. Every candidate for admission who 
has not had a high-school course is asked to submiti a detailed state- 
ment of his training and business experience; the criterion for 
admission to the several courses will be the ability to pursue the work 
with profit. Only applicants whose training and experience give 
evidence that they can carry the work successfully will be registered. 

grades of scholarship 

At the end of each semester the standing of a student in each of 
his courses is reported by the instructor to the Secretary and is entered 
of record. Students who do not take the regular examination in any 
subject at the close of the semester are reported absent and credit for 
that subject can only be obtained by passing a second examination at 
such time as may meet the convenience of the instructor. At the end 
of the academic year a certificate of credit for work completed, con- 
taining a statement of the grades attained in each subject, will be sent 
to the student by the Secretary. Employers also will be kept informed 
of the progress of their employes. 

Graduation Requirements 

required work 

All candidates for a diploma or a degree in the School of Com- 
merce must complete at least the following required work: One 
year's work in Accounting; one year's work in Commercial Law; 
one year's work in Economics and one year's work in Finance. 

graduation and diploma 

The trustees of Northwestern University, on recommendation 
of the faculty of the School of Commerce, will grant a diploma to 
students who have satisfactorily completed an approved course of 
study normally requiring four evenings a week throughout three 
school years. For the convenience of those whose other duties will 



SCHOOL OF COMMERCE 3I 

not permit them to carry four subjects a week, a four-year course of 
three evenings a week is recommended. 

DEGREE IN BUSINESS ADMINISTRATION 

Provision for the degree assumes that in addition to completing 
all entrance requirements, two full academic years are to be devoted 
exclusively to the work of the course. 

Combined Course in the School of Commerce and the Col- 
lege OF Liberal Arts 

It is contemplated that students in the College of Liberal Arts 
will be permitted, by combining their college course with the course 
in the School of Commerce, to shorten by one year the aggregate 
time required for the two degrees. 

Methods of Instruction 

Instruction is adapted to the nature of the subject under con- 
sideration. In the Commercial Law courses the case system is used. 
Wherever feasible, analogous methods are employed in other courses. 
In connection with lectures by the instructor, emphasis is laid on in- 
dependent work and class discussion by the students. Text-books 
in many of the courses are replaced by mimeograph copies of lec- 
tures and other class exercises. Reference is made, wherever prac- 
ticable, to books and articles in which subjects taken up in the class 
are further discussed. It is expected that students will note for 
further study important points covered in the work of the class. The 
object of instruction at all times will be to assist the student to de- 
rive from his reading, from the class exercises and from his own ex- 
perience, fundamental principles capable of concrete application in 
business. 

special lectures 

Regular instruction in the several courses will provide for fre- 
quent lectures by men who, from their experience, are in a position 
to speak authoritatively upon the subjects under discussion. In addi- 
tion to this, men prominent in the business and professional life of the 
community will, from time to time, give general lectures to all the 
students of the School. 

apprenticeship 

The students in the diploma course will find that their regular 
business activities offer most valuable opportunity for making prac- 
tical applications of principles brought out in the course of their 
study. 

In the degree course, provision will be made by which students, 
at least in the last year of their course, may accompany their regular 
class instruction with apprenticeship in the business in which they later 
intend to make their careers. 



32 NORTHWESTERN UNIVERSITY 

SINGLE SUBJECTS 

Persons of suitable age and business experience, who are not in 
position to register for the complete diploma course, may take any 
single subject for which they are prepared. Should the student 
later decide to complete the full course, subjects so taken will be duly 
credited. 

Degree of Certified Public Accountant 

By act of the General Assembly passed May 15, 1903, provision 
is made for a state examination for the degree of Certified Public 
Accountant. For many years the Illinois Society of Certified Public 
Accountants contemplated founding a school In which should be 
given the work necessary to prepare for this degree. One of the 
results of commercial development during the last generation has 
been the growth in importance of the accounting profession. A 
knowledge of accountancy is becoming almost indispensable to the 
successful conduct of every business. Business efficiency demands, 
moreover, that the professional accountant shall be a man of broad 
and fundamental training and of recognized professional standing 
parallel to that of the lawyer and the physician. The close connec- 
tion of the School of Commerce with the leading men of the profes- 
sion enables It to set a high standard of professional training. 

The administration of the state law is placed upon the University 
of Illinois, but the Northwestern University School of Commerce 
will co-operate in every possible way In providing the training nec- 
essary to the successful operation of the law. 

Credit in Other Departments of the University 

Upon fulfillment of entrance requirements and payment of ma- 
triculation fee, students in the School of Commerce may be entered 
as candidates for degrees In other departments. Upon vote of the 
faculty of another School of the University, work in the School of 
Commerce along lines covered by the curriculum of the other School 
concerned may be credited toward fulfilling the requirements for a 
degree In that School. 

Students from other departments entering the School of Commerce 
will be required to present a properly certified statement of their stand- 
ing in the school from which they came. 

Day Work 

It Is not proposed to confine the work In commerce to students 
in evening courses. A large proportion of the subjects which should 
com.e within the scope of a day course in commerce are now offered 
at Evanston, as a regular part of the curriculum in the College of 
Liberal Arts (see University Catalogue, pp. 84-86). It is expected 
that these courses will be supplemented by other courses at Evanston, 



SCHOOL OF COMMERCE 33 

while provision for the Degree in Business Administration, 
elsewhere described, will give students preparing for a business ca- 
reer an opportunity to pursue their professional study in Chicago, 
where day, as well as evening, courses will be given. The combined 
course in Evanston and Chicago will offer a maximum opportunity 
for cultural development directed to practical ends. 

Civil Service Examinations 

The different offices of the national and municipal governments 
thrown open by the civil service laws offer a field of opportunity 
for those who are prepared to pass the examinations. A number of 
courses in the School of Commerce furnish the general preparation 
necessary to this end, notably the courses in accounting and econom- 
ics. The more specialized courses, such as those in finance and trans- 
portation, offer a preparation directly applicable for positions under 
the Treasury Department, the Interstate Commerce Commission, 
and other branches of government service. 

Fees 

Tuition fees in the School of Commerce may be paid either in 
two installments, one at the beginning of each semester, or in ad- 
vance for the entire year. 

For full diploma course, four evenings of two hours each a week, 

Each semester $45.00 

In advance for the year 75-00 

For three subjects, three evenings a week, 

Each semester 35-00 

In advance for the year 60.OO 

For two subjects,- two evenings a week. 

Each semester 25.00 

In advance for the year 45.00 

For one subject, one evening a week. 

Each semester 1 5.00 

In advance for the year 25.00 

An additional fee of $25.00 is charged to those taking the course 
in Actuarial Science. 

Tuition for the first semester and for the year is payable October 
10, 1 9 10; for the second semester, February 13, 191 1. 

Students who become candidates for a diploma or a degree 
will be required to pay the matriculation fee of five dollars. 

No tuition will be refunded except upon satisfactory evidence 
that illness compelled the student to withdraw permanently from 
the School. 



34 northwestern university 

Prizes and Scholarships 

the joseph schaffner prize 

A prize of one hundred dollars, the gift of Mr. Joseph SchafE- 
ner, is awarded annually to that student in the School of Conn- 
merce who has taken at least three courses throughout the year and 
whose work shows the best record for the year. 

THE ILLINOIS SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS PRIZE 

A prize of one hundred dollars was established in June, 1909, 
by the Illinois Society of Certified Public Accountants, for the pur- 
pose of stimulating interest in those subjects which are indispensable 
to students intending to enter the profession of accountancy. It is 
awarded annually to that student in the School of Commerce who 
makes the best record for the year in the two courses of Intermediate 
Accounting and Commercial Law (either I or II). 

SCHOLARSHIPS FOR EMPLOYES 

A number of business men in the past year have given scholarships 
in the School of Commerce to men in their employ. It is expected 
that an increasing number of employers will avail themselves of this 
opportunity to encourage ambitious young men and to show their 
appreciation of the qualities that make for efficiency and progress. 

Bureau of Appointments 

Through this bureau an effort is made to keep in touch with 
the growing demand of the business community for trained men. 
The Bureau offers its services to all the students in the School of 
Commerce who are seeking to increase their efficiency and to rise to 
positions of greater responsibility. Obviously, not every student reg- 
istered in the Bureau can expect to secure precisely the kind of po- 
sition nor the degree of promotion he may desire. Those especially 
who are just entering on a business career will realize that they 
must usually begin at the bottom. The efficacy of any efforts in be- 
half of students put forth by officers of the School will depend to a 
very large extent upon the co-operation of the students themselves. 
Information which may come to any student concerning positions to 
be filled should be brought promptly to the attention of the Bureau, 
together with such details as can be secured. 

During the past year over thirty new positions were secured for 
students of the School, with salaries ranging from $10 a week to 
$2,700 a year. A large proportion of the positions available carried 
salaries of over $1,500. 

Large business houses, in need of trained men, are expressing a 
desire to secure graduates of the School such as promises to open to 
them a practically limitless field of opportunity. 

Registration for employment should be made at the office of the 



SCHOOLOFCOM MERGE '35 

School. All communications for the Bureau of Appointments should 
be addressed to the Secretary of the School of Commerce, Northwest- 
ern University Building, Lake and Dearborn Sts., Chicago. 

OuT-oF-TowN Students 

The evening courses now being offered are primarily for the ben- 
efit of men who are regularly employed in business in Chicago. An 
increasing number of students, however, are coming from a distance, 
some of them filling positions in Chicago during the daytime, while 
others devote their whole time to study. 

The officers of the School of Commerce will be pleased to com- 
municate with men from a distance who desire to avail themselves 
of the opportunities of the School. It is not impossible that in some 
cases prospective students, through the agency of the Bureau of Ap- 
pointments or otherwise, m.ay secure positions in the city. Such 
an arrangement would add to the advantages of the School those of 
a broader business experience. 

Registilation 

Registration for work in the School of Commerce may be made 
at the hours indicated below. 

Hours for Consultation 

The office of the School of Commerce, in Room 224, Northwest- 
ern University' Building, at the corner of Lake and Dearborn Streets, 
Chicago, will be open from 9 a.m. to 5 p.m., and during the school 
year 6:30 to 7 p.m., daily: Saturdays from 9 to 1:30. Between Sep- 
tember 15 and October 5, the Dean or Secretary will be at the office 
from 12 to 6 daily, Saturdays from 12 to 2. Consultation at other 
hours will be arranged upon request. 

Address all correspondence to the Northwestern University 
School of Commerce^ Lake and Dearborn Streets, Chicago. 



36 NORTHWESTERN UNIVERSITY 

PRIZES AND HONORS 

1910-11 

The Joseph Schaffner Prize^ for highest scholarship in three 
or more courses: Divided between 

Joseph Henry Gilby Fred Norman Vanderwalker 



The Illinois Society of Certified Public Accountants 
Prize : 

Samuel Lazarus Gunther 



The work of the following students, registered for three or more 
courses in the School of Commerce in 1910-11 was marked by dis- 
tinguished excellence : 

Charles Martin Burlingame, C.P.A. William Herbert Maddock 

Harold Mann Dudley Walter George Mitchell 

Joseph Henry Gilby Alexander W. T. Ogilvie 

Samuel Lazarus Gunther Walter Holton Price 

Joseph Sebastian Kelly Fred Norman Vanderwalker 



SCHOOL OF COMMERCE 37 

STUDENTS REGISTERED IN THE SCHOOL OF COM- 
MERCE FOR THE YEAR 1910-11 

Allen, Edward M., Bookkeeper, Ready k Callaghan Coal Co., 134 

Washington St. 
Anderson, Arthur M., Correspondent, J. W. Butler Paper Co., 218 

Monroe St. 
Anderson, William W., Bookkeeper, Commonwealth Electric Co., 

139 Adams St. 
Andree, Arthur P., Bank Clerk, Continental National Bank, 125 

Monroe St. 
Andrews, Elliot R., Stocks and Bonds, Chamber of Commerce. 
Anke, Richard P., Bookkeeper, Charles Hellmuth, 355 S. Clark St. 
Ashman, Lew^is E., Correspondent, Babson Brothers, 2845 W. 19th. 
Bach, Robert A., Stockkeeper, Chase & Sanborn, 10 Lake St. 
Bacon, Albert T., Public Accountant, 2233 Fairfax Av., Morgan 

Park. 
Bailey, Harry P., College of Liberal Arts Student, Evanston. 
Baker, Raymond E., Receiving Teller, Drovers Deposit National 

Bank, 4201 S. Halsted St. 
Barber, Henri N., Salesman and Buyer, Armour & Co. 
Barker, John L., Ph.B., Accountant, Price, Waterhouse & Co., 13 10 

Corn Exchange Bldg. 
Barrows, Orville P., Accountant, Reliance Manufacturing Co., 316 

Fifth Ave. 
Barry, Michael J., Bookkeeper, Big Creek Colliery Co., 1735 First 

National Bank Bldg. 
Bartlett, Byron M., Bank Clerk, Merchants Loan & Trust Co., 135 

Adams St. 
Bate, Frederick B. , Office Department, Plows Inc. , 24 Washington. 
Beans, Walter, Accountant, Lybrand Ross Bros. & Montgomery, 

164 Dearborn St. 
Behl, Peter H., Clerk, Marshall Field & Co., Retail. 
Berg, John, Bookkeeper, State Bank, 142 Washington St. 
Berleman, Laurence J., Audit Clerk, Marshall Field & Co., Retail. 
Berta, Francis J., Bookkeeper, Mandel Brothers. 
Bigelow, Louis B., Salesman, International Salt Co., 9 Jackson Blvd. 
Blanke, Theodore L., Accountant, Audit Company of New York, 

171 La Salle St. 
Bliven, Howard O., Insurance Broker, Haskell Miller 5^ Co., 159 

La Salle St. 
Block, Fred F., Bookkeeper and Cashier, Gcrson Guthman, ,132 N. 

Ashland Ave. 
Block, Michael O., Correspondent, Chicago City Railway Co., 164 

Dearborn St. 
Bockelman, Otto F., Clerk, Swift & Co. 
Boehm, George F., Bookkeeper, Stephen Bilek Co., 21 17 S. Troy St. 



38 NORTHWESTERN UNIViiRSITY 

Bokum, Norn's H., B.S., Mutual Benefit Life Insurance Co., 204 

Dearborn St. 
Boman, Bernard W., Collector, Berry Brothers, Ltd., 25 Lake St. 
Boomer, George O., Cashier, Spencer Trask & Co., 115 Adams St. 
Boomer, H. R., LL.B., Vice-President, Ellsworth & Cross Co., 145 

Van Buren St. 
Borden, Alfred C, Clerk, Phoenix Insurance Co., 205 La Salle St, 
Boyajohn, Haig M., C.E., Civil Engineer, Union Stock Yard & 

Transit Co., 164 Dearborn St. 
Brackett, Harry H., Bookkeeper, Board of Education, 143 Dearborn. 
Brennan, John F., Independeent Packing Co., 41st and Halsted St. 
Brennan, Patrick J., Independent Packing Co., 41st and Halsted St. 
Brenner, John H., Bookkeeper, H. F. Narcott & Co., 123 E. 43rd St. 
Brinstin, William E., Secretary, Federal Life Insurance Co., 204 

Dearborn St. 
Bronson, Donald F., A.B., Accountant, Western Electric Co. 
Brown, Herbert P., Public Accountant, Barrow, Wade, Guthrie & 

Co., 98 Jackson Blvd. 
Brown, Robert M., W. J. Bradford & Co., 154 E. Kinzie St. 
Buesing, Henry J., Clerk, Illinois Life Insurance Co., 134 Monroe. 
Burg, John, A.B., Secretary to the President, Northwestern Univer- 
sity, 87 Lake St. 
Burlingame, Charles M., C.P.A., Accountant, I. Lanski & Co., 

22nd and Jefferson Sts. 
Burnson, Clarence V., Collector, Pullman Trust & Savings Bank, 

Arcade Bldg. 
Butler, Ward, Real Estate Loans, American Bond & Mortgage Co., 

169 Jackson Blvd. 
Callander, Alexander B., B.S., Structural Engineering, H. M. Byl- 

lesby &Co., 218 LaSalle St. 
Campbell, Doan A., Clerk, Hart, SchafFner & Marx, 160 Franklin. 
Camphausen, Frederick H., Voucher Clerk, People's Gas Light & 

Coke Co. 
Canigan, Howard F., LL.B., Manager, Plume & Atwood Mfg. Co., 

Room 508 Heyworth Bldg. 
Carlson, Emil C, Bookkeeper, A. H. Andrews Co., 176 Wabash. 
Carlson, Victor C, Junior Partner, John A. Carlson & Son, 1542 

Estes Ave. 
Carroll, Wm. T., Correspondent, C. M. & St. P. R.R. 
Carson, William A., Salesman, Carson, Pirie, Scott & Co., Wholesale. 
Casey, Miss Elizabeth, Teacher, New Trier High School. 
Cass, Sigismund, Bookkeeper, Hart, Schaffner & Marx, 160 Frank- 
lin St. 
Chan, George A., Student, 277 S. Clark St. 
Christiansen, William F., Cost Accountant, Tobey Furniture Co., 

100 Wabash Ave. 
Clancy, Leslie M., Hibbard, Spencer, Bartlett & Co., i State St. 



SCHOOLOFCOM MERGE 39 

Clark, Ainsworth W., 601 1 Woodlawn Ave. 

Clowes, Francis J., Public Accountant, Price, Waterhouse & Co. 

Clyman, Abraham, S. W. Winefield & Co., Real Estate, 140 Dear- 
born St. 

Coffin, Fielder J., Electrical Engineer, Chicago City Railway Co. 

Condon, Joseph F., Accounting Clerk, Western Electric Co. 

Cook, Jonathan B., A.M., C.P.A., Accountant, Marwick, Mitchell 
&Co., iSgLaSalle St. 

Cooley, Hiram W., Auditor, Chicago House Wrecking Co., 35th 
and Iron St. 

Cooney, Lee W., LL.B., Assistant Credit Man, Marshall Field & 
Co., Retail. 

Cooper, John A., Bookkeeper and Cashier, Hilo Gum Co., 127 Mar- 
ket St. 

Coppersmith, John L., Wholesale Fruit Buyer, P. W. Coppersmith 
& Co., loi S. Water St. 

Coyle, Bernard J., Cashier, Central Bedding Co. of Illinois, 3617 
S. Center Ave. 

Crowley, Robert F., Bank Clerk, Illinois Trust and Savings Bank. 

Cullen, John R., Real Estate Clerk, John Cullen, 240 Blue Island 
Ave. 

Cuming, Eugene H., Clerk, General Electric Co., 98 Jackson Blvd. 

Cushman, Robert E., Stenographer, Commercial National Bank, 115 
Adams St. 

Davies, Glenn H., Clerk, Ford & Johnson Co., 1550 Indiana Ave. 

Davis, Will C, Assistant Manager, Export Department, Swift & Co. 

DeLany, Clarence M., B.A., LL.B., C.P.A., Accountant, Price, 
Waterhouse & Co., Corn Exchange Bank Bldg. 

Dessler, Nicholas, Bookkeeper, Adam Schaaf Piano Co., 121 7 W. 
Monroe St. 

Dixon, Donald S., Southern Cotton Oil Co., Rookery Bldg. 

Dolbear, Jayn W., Federal Life Insurance Co., 204 Dearborn St. 

Dold, Herold T., Clerk, Price, Waterhouse & Co., Corn Exchange 
Bank Bldg. 

Dombrow, Rudolph C, Bookkeeper, Western Foundry Co., 3634 
S. Kedzie Ave. 

Donaldson, Raymond B., Accountant, Corbin Sons & Co., 87 Michi- 
gan Ave. 

Donaldson, Samuel J., Bank Clerk, First National Bank. 

Donnelly, Michael J., Shop Accountant, Street's Western Stable-Car 
Line, 77 Jackson Blvd. 

Dudley, Harold M., B. A., Junior Accountant, Wilkinson, Reckitt, 
Williams & Co. 

Dunbar, John, Bookkeeper, People's Gas Light & Coke Co. 

Duncan, Arthur W., Assistant General Bookkeeper, C. & N. W. Ry. 

Duncan, Clinton E., Business Manager, Morgan Park Academy. 

Early, Benjamin B., Student, Northwestern University Law School, 



40 NORTHWESTERN UNIVERSITY 

Eichenberg, Henry E., Bookkeeper, Jewell Belting Co., 175 E. Lake. 
Eliel, Edwin F., Bookkeeper, Hart, Schaffner & Marx, 160 Franklin. 
Ely, Laurence D., Student, 926 Hinman Ave., Evanston. 
Engelsman, Henry, Bookkeeper, North Shore Electric Co., 205 La 

Salle St. 
Engleman, Theodore G., Clerk, Swift & Co. 

Eysenbach, H. Arnold, Clerk, German-American Fire Insurance Co. 
Fass, David H., Assistant Bookkeeper, Daube, Cohn & Co., 375 Fifth 

Ave. 
Feery, Miss Margaret C, Stenographer, Cuney & Allen, 1244 Unity 

Bldg. 
Ferdinandsen, Albert, Bookkeeper, Marshall Field & Co., Wholesale. 
Fitzgerald, Charles P., Accountant, By-Products Coke Corpora- 
tion, 204 Dearborn St. 
Flentye, William H., Bonds, McCoy & Co., 181 LaSalle St. 
Flory, Owen O., Bookkeeper, Williams Organ & Piano Co., 57 

Washington St. 
Flury, Walter F., Edgar M. Snow & Co., loi Washington St. 
Foerster, Paul, Jr., Bookkeeper, Metropolitan Trust & Savings Bank, 
Fogg, Leland J., Accountant, Barrow, Wade, Guthrie & Co., 98 

Jackson Blvd. 
Ford, Charles A., Accountant, American Steel Foundries, 115 Adams. 
Foster, Leon P., Cashier, Calumet & So. Chicago Ry. Co., 9314 

Drexel Ave. 
Freilich, Ellis B., Clothing Business, 631 W. 12th St. 
Frye, Nels, Bill Clerk, National Biscuit Co., no N. Morgan St. 
Furse, John R., Clerk, Western Electric Co. 
Gaarden, John H., Student, 885 LaSalle Ave. 
Gaddis, William B., Bookkeeper, R. B. Arnold Coal Co., 325 W. 

1 2th St. 
Gaensslen, Carl A., M.E., Student, 15 12 LaSalle Ave. 
Gaither, William R., Auditor, Calumet & So. Chicago Ry. Co., 9314 

Drexel Ave. 
Geiss, William H., Accountant, E. J. E. Ward, 4908 Washington 

Park Place. 
Gibson, William C, Salesman, Peabody, Houghteling & Co., 181 

LaSalle St. 
Gilby, Joseph H., Department Clerk, Morris & Co. 
Gilcrest, Paul A., Accountant, Barrow, Wade, Guthrie & Co., 98 

Jackson Blvd. 
Gill, James A., Cashier, William Wrigley & Co., 88 Michigan Ave. 
Gillies, Allastair, Clerk, International Harvester Co. 
Gleason, Miss Anna, Bookkeeper and Stenographer, J. L. Kesncr, 75 

Monroe St. 
Goebig, Harry F., Clerk, Audit Company of Illinois, 164 Dearborn. 
Goldstein, Jacob Israel, Cost Clerk, Eisendrath, Schwab & Co., 1302 

N. Halsted St. 



SCHOOL OF COMMERCE 4I 

Goodell, Robert E., B.S., Cost Accountant, Liquid Carbonic Co. 

Gosswiller, Franklin C, Clerk, First National Bank. 

Granberg, Oscar E., Auditor, States Restaurant. 

Grauer, Charles R., Bookkeeper, William A. Bond & Co., 115 Dear- 
born St. 

Graves, Charles A., Student, 2023 Maple Ave., Evanston. 

Gray, John R., Stenographer, National City Bank of Chicago, 184 
LaSalle St.' 

Gray, John W., Sales Manager, Pace & Co., 97 Washington St. 

Greenwood, Robert C, Student, 883 LaSalle Ave. 

Gries, George G., B.S., Bond Salesman, Trowbridge & Niver Co. 

Gunther, Samuel L., Bookkeeper, Morris & Co. 

Hagman, Victor E., Clerk, Swift & Co. 

Hall, George L., General Cashier, Cable Co., 240 Wabash Ave. 

Hall, John S., Private Secretary, A. T. & S. F. Ry. Co. 

Halsted, Guy L., Accountant, Illinois Steel Co., South Chicago. 

Hargrave, Charles M., Cost Clerk, Crane Co. 

Harmon, William B., Bookkeeper, Marshall Field & Co. 

Harnblom, William C, Correspondent, J. W. Butler Paper Co. 

Harraden, Charles G., Insurance Clerk, Berwyn, 111. 

Harrington, Charles N., Public Accountant, 1120 First National 
Bank Bldg. 

Harris, Albert M., Salesman, Washburn Crosby Co., 145 Van 
Buren St. 

Hausser, Arthur H., U. S. Post Office, Kinzie and Orleans Sts. 

Hawkins, Ray W., Salesman, 6706 Perry St. 

Hegberg, Reuben O., Clerk, Merchants Loan k Trust Co., 135 
Adams St. 

Hesler, Edward A., Assistant Cashier, Oliver Typewriter Co., 55 
Dearborn St. 

Higgins, Richard W., Accountant, The Pullman Co., 6 Adams St. 

Hogan, Walter T., Clerk, Calumet Insurance Co., 171 LaSalle St. 

Hoagland, Royal A., Clerk, Merchants' Loan & Trust Co., 135 
Adams St. 

Hoffman, Edward A., Assistant Cashier, American Medical Associa- 
tion, 535 Dearborn St. 

Hoffman, Joseph, Bookkeeper, Randolph Motor Car Co., 175 Ran- 
dolph St. 

Holzer, Frederick L., Clerk, Peabody, Houghteling & Co., 181 La 
Salle St. 

Horton, Frank L., Connecticut Mutual Life Insurance Co., 98 
Jackson Blvd. 

Horwick, Arthur N., The Horwich Vitkin Co., 2455 Archer Ave. 

Hulbush, Nora L., College of Liberal Arts, Evanston. 

Hummel, Jules H., Assistant Treasurer, Templeton Kenly & Co., 
Ltd., 1335 Sloan Ave. 

Hunt, Jasper N., A.B., Salesman, Shaw- Walker Co., 170 Wabash. 



42 NORTHWESTERN UNIVERSITY 

Hutchins, James C, A.B., Investment Securities, Lee, HIgginson & 

Co., 217 LaSalle St. 
Hutchison, George E., General Auditor, Zelgler Coal Co., 46 Van 

Buren St. 
Ireland, Charles H., A.B., Clerk, McCoy & Co., 181 LaSalle St. 

Jarchow, Christian E., Accountant, Western Foundry Co., 3634 S. 
Kedzie Ave. 

Jenkins, Rogers Philip, Northwestern Law School, Chicago. 

Jensen, Zopher L., Public Accountant, Buchanan, Walton JopIIn 
& Co., 189 LaSalle St. 

Johns, William A., Foreign Department, Swift & Co., South St. 
Joseph, Mo. 

Johnson, Alexander, Bookkeeper, William L. Bilbert Clock Co., 131 
Wabash Ave. 

Johnson, Arthur C, Clerk, The Pullman Co., 6 Adams St. 

Johnson, Edmund C, Operator, John A. Schaff, 93 Orleans St. 

Johnson, Paul C. , C. P. A. , Public Accountant, American Accounting 
Co., 143 Dearborn St. 

Jones, Herbert, Assistant Cashier, South Chicago Savings Bank, 
3017 E. 92nd St. 

Jones, Homer P., Bookkeeper, Tobey Furniture Co., 100 Wabash. 

Jooss, Eberhard L., Patent Broker, 405 Teutonic Bldg. 

Kain, J. Edward, Clerk, Peoples Gas Light & Coke Co., 150 
Michigan Ave. 

Kearney, Thomas V., Bookkeeper, Lake View Trust & Savings Bank, 
3212 N. Ashland Ave. 

Kelly, Joseph S., Bookkeeper, Federal Huber Co., 234 N. Halsted St. 

King, Thomas A., Private Secretary and General Manager, A. 
Hussey Leaf Tobacco Co., 37 LaSalle St. 

KIse, John H., Head Bookkeeper, Rothschild & Co., State and Van 
Buren Sts. 

Koehn, Richard C, Clerk, Whiteside & Wentworth, 9022 Cottage 
Grove Ave. 

Kreidler, Maynard L., Stenographer, C. U. P. & N. W. Line, 215 
Jackson Blvd. 

Kringel, Edwin W., Clerk, Wm. W. Thompson & Co., 164 Dear- 
born St. 

Larson, Arthur W., Bookkeeper and Cashier, The American Glove 
Co., 2021 Churchill St. 

Larson, Martin F., Bookkeeper, Robinson & Pfaf¥ Co., 140 Dear- 
born St. 

Lasher, Clayton S., Student, 1104 Forest Ave., Wilmette, 111. 

Latus, William H., Bookkeeper, Hart, SchafJner & Marx, 160 Frank- 
lin St. 

Laub, Albert H., Federal Life Insurance Co., 204 Dearborn St. 

Lautz, Arthur G., Chicago Telephone Co., 203 Washington St. 

Layton, Warren K., Student, College of Liberal Arts, Evanston. 



SCHOOLOFCOM MERGE 43 

Lowes, Charles E., Accountant, Union League Club, io8 Jackson. 

Lundblad, Byron E., Systematizer and Accountant, Baker Vawter 
Co., 143 Dearborn St. 

Lundgreen, Martin E., Office Manager, The Independent Packing 
Co., 41st and Halsted Sts. 

Luther, Miss Grace D., Stenographer, Price, Waterhouse & Co., 
Accountants, 206 LaSalle St. 

Maddock, William H., Office, J. W. Butler Paper Co., 218 Monroe. 

Maina, Arthur A., Clerk and Stenographer, American Ladder Co. 

Mann, George E., Bookkeeper, National Packing Co., Union Stock 
Yards. 

Manning, Horace, Accountant, Ernst & Ernst, Public Accountants 

Markham, Frank O., Bookkeeper, Monarch Telephone Manufactur- 
ing Co., 1009 Washington Blvd. 

Martins, Magnus J., Bookkeeper, Mandel Brothers, State and Madi- 
son Sts. 

MacArthur, Frederic V., Accountant, Link Belt Co., 39th St. and 
Stewart Ave. 

McBrady, Edward J., Office Clerk, Morris & Co., Union Stock 
Yards. 

McChesney, John S., Instructor in Foundry Practice, Board of Edu- 
cation, City of Chicago. 

McGauley, Joseph, Cashier, Commercial Life Insurance Co., 164 
Dearborn St. 

McGivern, W. A., Merchant, 1123 Rush St. 

McKennon, William M., Accountant, Wilkinson, Reckitt, Williams 
& Co., 204 Dearborn St. 

McLaughlin, William F., Student, 3927 Lake Ave. 

McLerie, Harry, Packer, Sw^ift & Co., Union Stock Yards. 

Mearns, Kenneth J., Auditor, Marshall Field & Co., State, Wash- 
ington, Randolph Sts., and Wabash Ave. 

Merkes, George E., Bookkeeper, Geo. L. Shuman Publishing Co. 

Merley, Oren E., Federal Life Insurance Co., 204 Dearborn St. 

Meyer, Charles J., Accountant, Paepcke, Leicht Lumber Co., 938 
W. Chicago Ave. 

Meyn, Henry J., Clerk, Scully Steel & Iron Co., 2364 S. Ashland. 

Michels, John J., Assistant Office Manager, Omaha Packing Co. 

Millard, Harry, Clerk, Hart, Schaffner k Marx, 160 Franklin St. 

Mitchell, Karl M., Division Wire Chief, Chicago Telephone Co., 

Mitchell, Walter, Bookkeeper, A. H. Abbott & Co., 78 Wabash. 

Mitten, Edward L., Chicago & Eastern Illinois R. R. Co. 

Moore, Donald O., Rate Clerk, Illinois Central R. R., i Park Row. 

Moore, James J., Bookkeeper, Morris & Co., Union Stock Yards. 

Moore, Levering, B.L., Sales Manager, Peabody, Houghteling & 
Co., 181 LaSalle St. 

Moore, William A., Chief Tariff Clerk, Chicago, Indiana & Southern 
R. R., LaSalle St. Station. 



44 NORTHWESTERN UNIVERSITY 

Morris, John F., Bookkeeper, The Orchard Construction Co. 
Morrison, John A., Clerk, St. Luke's Hospital, 1439 Michigan Ave. 
Moulton, Melvin W., Clerk, First National Bank, 164 Dearborn St. 
Mozingo, Frederick P., Incorporated Accountant, 427 Ashland Blk. 
Mueller, Walter Andrew, Clerk, Union Trust Co., 143 Dearborn. 
Murbach, Fred G., Clerk, Union Trust Co., 143 Dearborn St. 
Naylor, Frederick L., Secretary and Treasurer, Economical Drug Co., 

84 State St. 
Nedbal, Frank T., Accountant, Wilkinson, Reckitt, Williams & Co., 

204 Dearborn St. 
Neel, Wirt R., Clerk, Live Stock Exchange National Bank, Union 

Stock Yards. 
Niemack, Hans A., Credit Manager, Straus & Schram. 
Niven, Robert Marcus, A.B., Bookkeeper, S. M. Hunter & Co., 

5643 Jefferson Ave. 
Nixon, Julian C. , Bookkeeper, Geo. M. Clark & Co., 82 Michigan. 
North, Hugh, B.L., Attorney-at-Law, Greek-American Corporation. 
Nye, John W., Advertising Department, International Harvester Co. 
O'Brien, Daniel W., Accountant, Barrow, Wade, Guthrie & Co., 

Monadnock Bldg. 
Ogilvie, Alexander W. T., General Auditor, Philipsborn, 199 Adams. 
Ohlin, John A., Stenographer, Chicago, Milwaukee & St. Paul Ry. 
Oliver, David, B.L., Backers of Eastman Co. on Special Contracts. 
Oliver, Joseph D., Student, Del Prado Hotel. 
Olsen, Edwin Oliver, Bookkeeper, Jewel Manufacturing Co., 

Marshall Blvd. and 21st St. 
O'Riley, James E., Clerk, National Bank of the Republic, 171 La 

Salle St. 
Osteurieder, Otto, Purchasing Agent, Peter Schoenhofen Brewing 

Co,. 526 W. 1 8th St. 
Paluszek, Adam J., Hart, Schaffner & Marx, 160 Franklin St. 
Pamperien, Fred G., Continental Casualty Co., 1208 Michigan Ave. 
Paselk, Erich F., Bookkeeper, The Wm. Schweder Lumber Co. 
Perkins, Roy F., George L. Shuman & Co., 328 Wabash Ave. 
Plimpton, Nathan C, Accountant, University of Chicago. 
Poe, Floyd S., Salesman, Belmar Manufacturing Co., 290 Rush St. 
Portley, Daniel J., Timekeeper, Street's Western Stable Car Lines, 

77 Jackson Blvd. 
Price, Walter H., Bill Clerk, Western Electric Co. 
Primm, Miss Clara L., Ph.B., Student, 551 E. 31st St. 
Procter, Gilbert C, Clerk, Omaha Packing Co., 2312 S. Halsted St. 
Purchase, Anson G., Clerk, Dowst Bros. & Co., 120 Ann St. 
Ransom, Scott, Prairie State Bank, no W. Washington St. 
Read, Lyle D., Clerk, Illinois Steel Co., North Works. 
Reebie, Arthur W., Branch Office Manager, W. C. Reebie & Bro. 
Reed, Franklin H., 4657 Magnolia Ave. 
Rexford, Frank L., Illinois Life Insurance Co., 134 Monroe St. 



SCHOOLOFCOMMERCE 45 

Reynolds, Frank G., Cashier, W. D. Boyce Co., 500 Dearborn Ave. 

Riggs, Harold W., A.B., Sales Dept., Peabody, Houghteling & Co. 

Riley, Don W., Clerk, Western Trust & Savings Bank, 217 LaSalle. 

Robinson, Oscar E., High School Teacher, 543 E. 50th St. 

Roche, Nicholas T., Bookkeeper, American Steel & Wire Co., 115 
Adams St. 

Romanowski, Leon, City Salesman, Eureka Coal & Dock Co., 84 
Van Buren St. 

Rosenthal, Herman L., Traffic Manager, Estabrook-Skeele Lumber 
Co., 279 Dearborn St. 

Rosenthal, Joseph, Cashier, Daube, Cohn & Co., 375 Fifth Ave. 

Rosenzweig, Maurice L., Assistant Bookkeeper, L. Rosenzweig, 3557 
S. Halsted St. 

Ross, William B., Bookkeeper, Chicago, Burlington & Quincy R. R. 

Ruckes, Joseph J., Jr., B.S., Civil and Mechanical Engineer, Barrett 
Manufacturing Co., 164 Dearborn St. 

Ryan, John H. B., Great Northern Ry. Co., 220 S. Clark St. 

Sahs, Frank L., Auditor's Assistant, Fairbanks, Morse & Co., 481 
Wabash Ave. 

Sandberg, Harry R., Bookkeeper, Chicago City Bank, 6235 S. Hal- 
sted St. 

Sandberg, Joseph, Bill Clerk, General Glue Co. 

Sanger, Walter L., B.S., Student, 6540 Sangamon St. 

Saunders, David S., Accountant, Swift & Co. 

Sausser, Peter L., Bookkeeper, Illinois Life Insurance Co., 134 Mon- 
roe St. 

Sayles, Charles N., Hart, Schaffner & Marx, 160 Franklin St. 

Schaefer, Louis, Clerk, Merchants' Loan & Trust Co., 135 Adams St. 

Schiff, Jeffrey, Clerk, Foreman Bros. Banking Co., no LaSalle St. 

Schkurovich, George J., Accountant, Hillman's. 

Scholz, Ferdinand M., Accountant, The Foster-Munger Co., 20th 
and Sangamon Sts. 

Schramm, Charles E., Accountant, John Mohr & Sons, 349 W. Illi- 
nois St. 

Schramm, Ernst G., Stenographer, William Salomon & Co., 181 
LaSalle St. 

Schulze, Richard, Clerk, Chicago & Northwestern Railroad. 

Scott, Orville J. H., Accountant, Western Electric Co. 

Shane, J. David, Bookkeeper, Peabody Coal Co., 125 Monroe St. 

Shay, George T., Salesman, John A. Carroll & Bro., 112 LaSalle St. 

Short, Frank E., Shop Accountant, Western Electric Co. 

Shultz, John J., Bookkeeper, Mueller-Blickhahn Co., 132 Market St. 

Shute, Herbert W., Bookkeeper, First National Bank. 

Silverman, Benjamin H., Clerk, C, R. I. & P. R. R. 

Siroky, George F., Bookkeeper, Automatic Electric Co., Morgan 
and Van Buren Sts. 

Sisson, Miss Blanche E., 436 E. 46th Place. 



46 NORTHWESTERN UNIVERSITY 

Skurovich, Harry J., Bookkeeper, The Fair. 

Smith, Lewis A., Student, College of Liberal Arts. 

Speyer, John, Audit Clerk, Chicago Telephone Co. 

Staehle, Robert, Bookkeeper, Gage Bros. & Co., 129 Michigan Ave. 

Staehle, William, Shipping Dept. Manager, Chicago Mercantile Co. 

Stahl, William C, Bookkeeper, Western Foundry Co., 3634 S. Ked- 
zie Ave. 

Staley, Miss Myrtle M., Bookkeeper, Eddy Brass Foundry & Ma- 
chine Co., 173 N. Green St. 

Stanley, Charles R., Accountant, Arthur Young & Co., 98 Jackson. 

Steelhammer, Arvid M., Draughtsman, North Shore Electric Co. 

Steelhammer, Martin F., Clerk and Correspondent, Credit Dept. 
General Electric Co., 98 Jackson Blvd. 

Steen-Pedersen, John O., Head Bookkeeper, Meyer & Co., Harrison 
& Sherman Sts. 

Stewart, Fred S., Marshall Field & Co. 

Stibbs, Harry Glenn, 5824 Woodlawn Ave. 

Stone, Elmer L., Cashier, S. Peterson & Co., Randolph & Des- 
plaines Sts. 

Strombeck, J. Fred, Student, College of Liberal Arts. 

Sullivan, Thomas T., Ph.B., C.P.A., Auditor, Western Foundry 
Co., 3634 S. Kedzie Ave. 

Swanson, Albert E., Bookkeeper, Lee, Higginson & Co., 217 LaSalle. 

Thompson, Miss Flora, Bookkeeper, K. E. Morgan, 164 Dearborn- 
Thorp, William J., Bookkeeper and Accountant, Goodrich Transit 
Co., Michigan Ave. 

Thulin, Fred, Student, Northwestern University Law School. 

Timreck, Albert H., Metropolitan Elevated Railway Co. 

Tompkins, Norman C, Division Superintendent, Continental Cas- 
ualty Co., 134 Monroe St. 

Tortorell, Joseph N., Clerk, Illinois Steel Co., 115 Adams St. 

Tracy, Frederick E., Adsit & Co., Brokers, 224 LaSalle St. 

Traynor, Wm. B., Department Manager, Swift & Co. 

Treleaven, Walter S., Clerk Accounting Department, Peoples Gas 
Light & Coke Co. 

Trent, Donald C, Clerk, Federal Life Insurance Co., 204 Dear- 
born St. 

Trull, Albert H., Stenographer, Isaac M. Hamilton, Federal Life 
Insurance Co., 204 Dearborn St. 

Tylman, Daniel F., Bookkeeper, National Box Co., 38th St. and 
Center Ave. 

Ullman, Jacob, Head Bookkeeper, Northern Equipment Co. 

linger, Samuel, LL.B., Merchant, Woolen and Cotton Cuttings. 

Utteg, William F. R., Bookkeeper, Mechanical Rubber Co., 230 
Randolph St. 

Vallette, Elbert C, Auditor, Illinois Steel Co., 115 Adams St. 



SCHOOLOFCOM MERGE 47 

Vanderwalker, Fred N., Assistant Advertising Manager, Carter 

White Lead Co., 12042 Peoria Ave. 
Van Everv, Thomas B., Insurance Dept., iPeabody, Hough teling & 

Co., 181 LaSalle St. 
Van Home, Clifford, Bookkeeper, Withespoon-Englar Co., 1250 

Monadnock Blk. 
Voorhees, Miss Flora A., Accountant, Wm. E. Moses, 551 Bryant 
Wakatsky, Yocie, Student, 5407 Michigan Ave. 
Waldberg, Raphael, Student, 51 Lincoln Park Blvd. 
Wall, Edward J., Bookkeeper, W. F. Priebe Co., 34 S. Clark St. 
Wanamaker, John C, Student, 157 E. Ontario St. 
Washburne, Clarke, Clerk, Independent Button & Machine Co., 

345 W. Michigan St. 
Wells, Ernest E., Clerk, Midland Elevator Co. 
Wermuth, William C, Student, 4070 Evanston Ave. 
Wertzman, J. T. 
Westerdahl, Jalmar P., Bookkeeper, Aetna Povv'der Co., Room 17 18 

Tribune Bldg. 
Whidden, John B., Cost Accountant, Standard Oil Co. 
Whipple, Merrick A., Northwestern Law Student, 5514 Wayne Ave. 
Whisler, Samuel C, Clerk, Akron Tire & Vulcanizing Co., 234 

S. Sangamon St. 
Whitman, Olin M., Student College of Liberal Arts, 21 12 Lincoln 

St., Evanston. 
Wiedeman, Charles F., Auditor, Paepcke-Leicht Lumber Co., 938 

W. Chicago Ave. 
Wilkey, Roscoe Stanley, Student, College of Liberal Arts, Evanston. 
Willard, George A., Auditor, Goodrich Transit Co., Foot Michigan. 
Winslow, Clarence M., Junior Accountant, Jno. Alex Cooper & Co. 
Wolf, Arthur, Bookkeeper, Carson, Pirie, Scott & Co., State St. 
Wood, Edwin W., Clerk, General Offices, C, B. & Q. R. R. 
Works, Samuel D., Baker, National Biscuit Co. 
Wright, Frank M., Bookkeeper, Undergood & Smyser, 204 Dearborn. 
Wright, Robert M., Courtenay Barber, 849 First National Bank 

Bldg. 
Zarobsky, Joseph J., Clerk, Calumet Insurance Co., 171 LaSalle St. 
Zillmer, Frank G., Salesman, F. H. Hill Co., 944 Washington Blvd. 
Zimmerman, Edwin C, Assistant Cashier, Chicago White Lead & 

Oil Co., 821 Fulton St. 



48 



NORTHWESTERN UNIVERSITY 



< 

Q 
Pi 


Intermediate 
Accounting 

Railroad 
Economics 

Economics 

Insurance 
Practice 


Q 

CO 

a: 
h 


Commercial 
Law II 

Finance 

Commercial 
Spanish 

Railroad 

Accounting 


< 

Q 


Resources 
and Trade 

Stocks and 
Bonds 

Business 
English 

Actuarial 
Science 


1^ 
< 

i 

h 


Commercial 
Law I 

Corporation 
Finance 

Railroad 
Rates 


Monday 


Advanced 
Accounting 

First 
Accounting 

Psychology of 
Advertising 
and Sales 




j5ortj)Uies;tem 



H THE COLLEGE OF LIBERAL ARTS, located 
at Evanston, in an ideal college community, offers 
special preparation for the professions, and for pur- 
suits requiring broad training. 

1[ THE MEDICAL SCHOOL is one of the oldest, 
largest, and best equipped. Seven hospitals are open 
to students. Clinic material is abundant. 

H THE LAW SCHOOL, the oldest law school in 
Chicago, offers unexcelled library facilities and spe- 
cial courses that prepare for immediate practice in 
any state upon graduation. 

1[THE COLLEGE OF ENGINEERING has its 
own building just completed, beautifully situated, a 
model of efficiency. Offers courses in all branches 
of Engineering. Technical studies in a University 
environment. 

TI THE SCHOOL OF PHARMACY offers a scien- 
tific training in Pharmacy, Chemistry, and Drug and 
Food Analysis. Special courses for Drug Clerks. 

|[ THE DENTAL SCHOOL offers expert training 
in theory and practice. Facilities are unsurpassed. 
Its clinic is the largest in the world. 

T[ THE SCHOOL OF MUSIC affords a scientific 
preparation for music as an accomplishment and a 
profession. It is located at Evanston. 

HTHE SCHOOL OF COMMERCE provides in- 
struction in economics, elementary and corporation 
finance, commercial law and accounting. Many 
lecturers from business and professional life. 

If EVANSTON ACADEMY prepares for college, 
for engineering, for professional schools, and for 
business. 




NORTHWESTERN 

-*-^ University Bulletin is 
published by the University 
weekly during the academic 
year at Evanston, Illinois. 
Entered at the post office at 
Evanston, Illinois, as second 
class mail matter under act 
of Congress of July 16, 1904 

Volume X Number i8 June 14, 1910